Earnings from the Coonoor Tea Trade Affiliation (CTTA) auctions in the initial quarter (Q1) of present-day calendar have fallen by 28.seventeen per cent over the similar period very last calendar year.
This has took place simply because sixteen lakh kg fewer tea was sold regardless of the costs slipping by ₹17.94 a kg, reveals our investigation of the Marketplace Stories.
Till March, twelve auctions experienced been conducted when, to steer clear of the piling of unsold tea, producers sacrificed costs. The regular selling price dropped to ₹82.21 a kg from ₹100.fifteen for the duration of Jan-March 2019.
Nonetheless, the quantity sold dropped to one.twelve crore kg from one.twenty five crore kg in Jan-March 2019. With fewer tea being sold at lessen costs, the in general realisation in the initial quarter dropped to ₹92.08 crore from ₹128.19 crore. This drop of ₹36.eleven crore marked a drop of 28.seventeen per cent.